Conscious spending & the value of a dollar
After talking to a few friends and money edit readers, I wanted to take some time to talk about the value of a dollar. For that matter, the value of $5! $10! $50!
The Money Edit is all about building the foundation for a wealthy life. Consciously spending the money you have on things that you value leads to more happiness and less waste.
Conscious spending means choosing to spend your money on what you value most.
If you spend $5 here, $5 there, buy coffee, go out for lunch, pop online and get that $49 jean jacket because it's a great price right now, and head home, stop at the store, buy ice cream for dessert, spending $5 in gas on the way... you've just had a $100 day.
Nothing of lasting value, lots of money gone.
In my experience, if we value each dollar and think about the purchases we make, we'll have a lot more money left over at the end of the day. As an added bonus, we'll have a lot less stuff. We end up making healthier food choices and having more time to spend with those we love.
Think of how that $100 day could be different.
You wake up and make time to enjoy coffee at home. Head to work, with your lunch bag full of snacks and a jar of hearty soup. At noon, you find a bench outside and spend half an hour eating in the sunshine. To complement your 2PM snack, you drink the free tea/coffee at work. You planned your meals on the weekend so you can head home, slip in a quick jog before dinner (or after dinner!). You think about your outfit for the next day with a cool head, realizing that work is not a fashion show and you have better things to be concerned about - plus you're pretty hip so you can throw something cool together fairly easily ;). You rest easy knowing that you have money in the bank and you're well on your way to getting anything you want.
Now, this might seem like a drastic change. We have to wake up a bit earlier, take some time to plan ahead and commit to a lifestyle that builds wealth. Knowing why you want to be debt free, or reading your big crazy goal for this year every morning will help keep you motivated to live your best life.
The idea is to structure your life around what you value. What you want to spend time doing every day. And then make that happen!
What are your favourite ways to avoid mindlessly spending money?